American Daddy Trader
  • Politics
  • Business
  • Stock
  • Editor’s Pick
  • Politics
  • Business
  • Stock
  • Editor’s Pick

American Daddy Trader

Business

Bob Iger says Disney’s mission is to entertain, not send messages

by admin April 5, 2024
April 5, 2024
Bob Iger says Disney’s mission is to entertain, not send messages

Disney CEO Bob Iger said his company is not interested in sending messages in its movies and TV shows.

In an interview with CNBC on Thursday morning, Iger said Disney’s No. 1 mission is to capture broad — if increasingly diverse — audiences.

‘Infusing messaging is not what we’re up to,’ he said. ‘We need to be entertaining.’

Iger was speaking one day after his leadership received a vote of confidence from stakeholders in the face of an aggressive activist shareholder campaign led by billionaire Nelson Peltz, who had taken the company to task for its lackluster stock performance in recent years.

Peltz had also hit out at the company in an interview with the Financial Times for having dabbled in ‘woke’ commentary.

“Why do I have to have a Marvel that’s all women?’ Peltz asked. ‘Not that I have anything against women, but why do I have to do that? Why can’t I have Marvels that are both?’ In comments Peltz made about the blockbuster Marvel film, ‘Black Panther,’ he asked, ‘Why do I need an all-Black cast?”

That sentiment has also been echoed by Elon Musk, who joked on April Fool’s Day that he had been appointed head of diversity, equity and inclusion at the company. In the run-up to Wednesday’s shareholder vote, Musk also endorsed Peltz.

On Thursday, Iger told CNBC’s David Faber that he ‘ignore[s]’ Musk.

Musk’s comments ‘have no relevance to the Walt Disney Company,’ Iger said.

The Disney chief executive viewed the episode as little more than a ‘distraction’ given that the company was already focused on strategic priorities like making the Disney+ streaming platform profitable and nailing down the company’s succession plan.

Peltz, Iger said, ‘didn’t have any new ideas.’

The interview came a day after Iger won a key battle against a group of outside investors who’d sought to bring a slate of new board members tasked explicitly with increasing shareholder value.

Even with that victory, Iger still faces the daunting task of returning Disney to sustained growth after a decade of lackluster performance, at least when measured by its share price, which at about $119, has not changed much from the levels seen 10 years ago.

Among the company’s other priorities: integrating Hulu into Disney+; breathing new life into flagship properties like Marvel and Star Wars; transitioning ESPN into the new, streaming-and-gambling focused sports consumption era after decades of cable TV dominance; and navigating the complex culture war politics that continue to wrack America.

‘This activist move could wake Disney up and force it to spread its wings,’ said Brian Stutland, chief investment officer at Equity Armor Investments. He said Disney has tended to focus on creating media properties with strong tie-ins to its parks, but said that could now change.

‘It could force them into becoming more ‘Hollywood’ than just Star Wars and superheroes,’ Stutland said. ‘If they can accomplish that, then the stock and the company are going to be in good shape.’

Disney has a host of other media and studio resources at its disposal through its acquisitions of ESPN and 21st Century Fox, Stutland said — properties that should make it one of the dominant streaming players going forward.

‘They can become a lower cost way for people to get entertainment,’ Stutland said. While some additional initial spending may be required, Disney+ is already near profitability, so it shouldn’t be a problem, he said.

In the CNBC interview, Iger said Disney’s streaming business needs to increase user engagement, reduce marketing costs, “program more smartly” outside the U.S. market and crack down on password-sharing, among other initiatives.

Separately, the 73-year-old Iger has also faced questions about who will succeed him — especially in light of the failed tenure of Bob Chapek, who Disney named as its CEO in 2020 only to see Iger return two years later. CNBC’s Alex Sherman reported that Dana Walden, co-chair of Disney Entertainment, the arm of the company in charge of movies and TV shows, is a strong contender for the top job. She would be the company’s first female CEO and one of the few among America’s 50 largest companies.

‘She comes from a Hollywood background,’ Stutland said. ‘That’s what they need to do, is to focus on that.’

Iger began his career running errands for productions at ABC. He moved to Disney in 1995 after its acquisition of ABC, and has served as an executive there ever since.

This post appeared first on NBC NEWS

previous post
Top Two Sectors to Watch in April 2024
next post
Taxpayer dollars being used to fly ‘illegal aliens’ into U.S.? Nope.

You may also like

Target, McDonald’s and others are offering value as...

May 24, 2024

Where are low-cost airlines cutting back now? New...

September 2, 2024

Boeing withdraws contract offer after talks with union...

October 10, 2024

Here’s where rents are rising — and where...

May 22, 2024

PepsiCo buys prebiotic soda brand Poppi for nearly...

March 18, 2025

He plays rich on screen, but dreams of...

July 12, 2024

Americans who moved abroad say this big expense...

August 8, 2024

Amazon workers worldwide set to protest on Black...

November 28, 2024

Court rejects Boeing plea deal tied to 737...

December 7, 2024

More travelers risk booking hotel rooms on sites...

February 23, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Don’t Overlook This Lagging Industry; I Believe It’s Set To Explode!

      July 7, 2025
    • Trump dismisses Musk’s political ambitions as ‘ridiculous’ in sharp rebuke

      July 7, 2025
    • Israel hammers Houthis with airstrikes, rebels respond amid Red Sea flare-up

      July 7, 2025
    • Is a Chinese chain’s blood orange cold brew the future of coffee in America?

      July 7, 2025
    • Democrats project doom and gloom, not celebration, with July 4 messages

      July 6, 2025

    Archives

    • July 2025
    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024

    Categories

    • Business
    • Editor's Pick
    • Politics
    • Stock
    • Uncategorized
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 americandaddytrader.com | All Rights Reserved